Exxon Tries to Put the Worst Behind it With $20 Billion Writedown
By Jennifer Hiller HOUSTON, Nov 30 (Reuters) – Exxon Mobil Corp on Monday said it would write down the value of natural gas properties by $17 billion to $20 billion,...
Platform drilling firm Archer Limited announced today that it will continue drilling operations at the Greater Ekofisk area for at least another five years as part of a contract extension awarded today by field operator ConocoPhillips.
This contract extension for platform drilling slides the expiration date five years to June 30, 2020. The original contract was signed in early 2010.
This is the second extension the company has received in the past week. Last Friday, Archer was awarded a contract extension at the Statoil-operated Peregrino field offshore Brazil. That extension will commence September 1st for three years through August 31, 2017.
Archer currently operates a total of 33 platforms in the North Sea and in Brazil, including the platforms for the Greater Ekofisk Area.
Join the 63,050 members that receive our newsletter.
Have a news tip? Let us know.